Leary's letter is titled "The 'New' Nuveen," and he pitches the rebrand as a way for his team to be "one global organization whose solutions span nearly every public and private asset class in every type of investment wrapper."

"Our organization will continue to maintain our deep connection with TIAA and draw on the heritage of a combined 200 years of service," Leary writes, adding that their "investment promise also remains unchanged."

Leary also confirms, the WSJ writes, that "TIAA has no plans to sell or spin off the asset-management arm."